NSW Home in new castle with long term plan for investment

Where's your property? me curious too.

 

Im curious too.

 

what do you guys think about Bersfield/Taro? seems 10-15% cheaper than waratah/jesmond etc. probably because of the chicken factory. does anyone know who typically lives there and whether there is development around?

 

New Lambton Heights, couple turns off Grandview.

I grew up around there, low socio-economic area, not a lot of infrastructure except for good public transport, below average schools. On the plus side, usually biggers blocks, less flooding than Maitland and the urban sprawl of Maitland is pushing out that way towards Beresfield.

I owned a unit in Waratah, I call it the cranes over Waratah now, the last 6 - 12 months the developers have come in and flattened anything worth flattening in Waratah and whacking up flats and townhouses.

I'm no expert, ask the experts in the Newi thread - NSW - Can we start a Newcastle thread

 

that's intersting about council area. The areas of new lambton heights I was looking at are indeed in the lake mac council area.

 

I heard before that subdivision in Newcastle is easier than LMCC. 750m2 should be ok. Frontage >15m?

 

Ok I live around the area but haven't seen big constructions yet except border of Georgetown- may be in the pipe line though...

 

i didn't mean any actual large constructions, just two story town houses going everywhere.

 

When housing 'wealth creation' strangles the economy

Well well well, look at that. It turns out I am not the only lone voice in the wilderness. Somebody in Australia agrees with me.

I loved the conclusion. If all gen y starts saving then we get a recession.

 

What was your point again?

 

What's the subdivision requirement in LMCC?

 

What are peoples thoughts on Glendale and Cameron park

Also whats peoples thoughts on 4 bedroom House in Elermore vale/Cameron park vs 3 bedroom Town house in New Lambton or Kotara.

 

Cameron Park good place for young families lots of infrastructure, NBN, new shopping precincts in the pipeline, new homes better insulated/energy efficient etc, new schools.

Glendale lower price point, but close to Stockland and closer to CBD by a few mins.

In my opinion a house with larger land content is my choice.

 

Cameron Park isn't for me from a lifestyle point of view, it's a sprawling greenfield estate full of new houses, no character, on the edge of existance.

@drg86 listed all the positives well.

 

Correct it is a ghetto, i like wallsend instead.

 

I guess it does come down to preferences.

I did look at the abs suburb statistics
They Cameron park/wallsend/elermore vale have similar average incomes and demographics really.

Median house price is higher in cameron park but i suspect this reflects the fact that many newer houses have been sold in this area.

A few properties in cameron park have large land 800sqm+ is there potential for subdivision?

 

I've not driven through Cameron Park since I've had a keen eye for developing, so I can't speak to that. All I can say is go for a drive through Cameron park and then take a drive through Elemore Vale/Rankin park/New Lambton Heights and you'll feel the difference. There's quite a few flats going up in Elemore Vale and a ton of units going up soon on Lake Road.

If you're looking to subdivide a block there are much more attractive suburbs for example Kotara and Kotara South is quite popular for battle-axe style developments.

 

If you raise property prices endlessly and make property unnafordable and rents are high, then the young will leave or not spend money as they save for deposits. This results in property price stagnation. If the young loose jobs or interest rates rise or property is oversupplied then the situation is worse.

 

Not looking to subdivide. Just trying to make sense of prices.

Wouldn't mind something with Reno potential or ability to extend for extra room.

Have been looking at town houses for affordability. I know there are lots of apartments but fewer town houses.

 

I know in the Northlakes estate in Cameron Park you can't have 2 residences unless it's a corner block and they have separate st frontages. Granny flats are permitted only if they adjoin the main residence only.